APAC automotive aftermarket wear and tear market to grow 3.7% through 2028 | Asian Business Review
, APAC
Photo by ArtPhoto_studio via Freepik.

APAC automotive aftermarket wear and tear market to grow 3.7% through 2028

Factors like accident rates and driving patterns will drive growth.

The automotive aftermarket wear and tear market in Asia Pacific is set to expand at a compound annual growth rate of 3.7% from 2023 to 2028, according to a GlobalData report.

This sector, which includes crash repair parts, mechanical parts, wear and tear components, and tyres, is anticipated to expand from 1.4 billion units in 2023 to 1.68 billion units by 2028.

Madhuchhanda Palit, a GlobalData automotive analyst, noted that market growth will be influenced by a range of factors, including the number of on-road vehicles, accident rates, driving patterns, and demographics.

Countries with high reliance on personal vehicles, such as India and Thailand, are expected to see significant aftermarket demand. Additionally, factors like road conditions, traffic laws, and the adoption of advanced driver assistance systems may impact the demand for crash repair and other aftermarket components.

Follow the link s for more news on

Join Asian Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!